The Clap
The FRA allowed Expedition Investments to acquire an additional 34% stake in Domty (DOMT) for EGP 5 per share.
Background
This acquisition offer is an attempt from the Damaty family to acquire a bigger stake in Domty.
The Deets
Following the FRA’s approval, Expedition must announce its offer within 2 days of the approval, as well as acquire all shares offered to it.
What if too many stocks were offered?
Expedition must buy shares from everyone who wants to sell, but in the case that the total number of shares offered was equivalent to more than 34%, they will only buy a percentage of these shares to hit 34%.
Expedition given green light to acquire Domty 🟢
